Demand can be estimated with either time series data or cross-section data. The dataset attached below provides cross-section data for soft drink consumption in cans per capita per year, six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States.

SUMMARY OUTPUT Regression Statistics Multiple R 0.832173695 R Square 0.692513059 Adjusted R Square 0.671548041 Standard Error 38.60862887 Observations 48 ANOVA df SS Regression 3 Residual Total 147714.3628 44 65587.55382 1490.626223 47 213301.9167 MS F 49238.12095 33.031836 Significance F 2.44059E-11 Coefficients Intercept Price ($/6-pk) 525.8465897 -247.8777056 Standard Error t Stat 113.7417149 4.623163894 43.59250597 -5.686245837 P-value 3.31062E-05 Lower 95% Upper 95% Lower 95.0% Upper 95.0% 296.6152256 755.0779538 296.6152256 755.0779538 9.738E-07 Income ($/Capita) Mean Tem (F) 1.318736395 1.539237704 0.856746422 0.396227278 2.878465565 0.722289111 3.985198613 0.000250179 -335.7326286 -160.0227826 -1.783393362 4.420866152 -1.783393362 1.42278751 4.334143619 1.42278751 -335.7326286 -160.0227826 4.420866152 4.334143619 = 525.8 - 247.8X1 + 1.3x2 + 2.8X3 + 2.8x3